Weekly Report - 1 February 2005

GROWTH | Fox sees 7% target 'close'. After November figures showed economic activity running 6% higher than a year earlier, President Vicente Fox said last week that the 7% target he had promised to meet while campaigning for the presidency was now 'very close'. He also anticipated that final figures would show that the economy grew by more than 4% in 2004. His remarks regarding the 7% target, though not actually forecasts, prompted a wave of replies from economists, who said that the best that could be expected this year was a rate of about 4%. During his campaign Fox had promised to achieve 7% GDP growth and create a million new jobs a year.

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